Arteris (NASDAQ:AIP) Stock Gets Price Target Cut from TD Cowen

Arteris (NASDAQ:AIP) had its target price reduced by research analysts at TD Cowen from $40.00 to $25.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 31.03% from the stock’s previous close.

Other analysts have also issued reports about the company. Roth Capital began coverage on Arteris in a report on Tuesday, August 4th. They set a “buy” rating and a $40.00 target price on the stock. Craig Hallum initiated coverage on Arteris in a report on Monday, September 21st. They issued a “buy” rating and a $30.00 price target for the company. Oppenheimer began coverage on Arteris in a research report on Thursday, July 16th. They issued an “outperform” rating and a $40.00 price objective on the stock. Weiss Ratings raised shares of Arteris from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $38.00 price objective on shares of Arteris in a research note on Friday, August 7th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Arteris has an average rating of “Moderate Buy” and an average price target of $37.29.

Arteris Price Performance

NASDAQ AIP opened at $19.08 on Monday. Arteris has a 1 year low of $12.06 and a 1 year high of $50.26. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The company has a fifty day moving average of $23.06 and a 200 day moving average of $28.97.

Arteris (NASDAQ:AIP) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $24.13 million for the quarter, compared to analysts’ expectations of $23.48 million. Arteris had a negative net margin of 46.70% and a negative return on equity of 295.96%. On average, research analysts anticipate that Arteris will post -0.68 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Saiyed Raza sold 70,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $30.01, for a total transaction of $2,100,700.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bayview Legacy, Llc sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $20.75, for a total value of $2,075,000.00. Following the sale, the insider owned 8,229,071 shares in the company, valued at $170,753,223.25. This trade represents a 1.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 752,631 shares of company stock worth $19,147,283. 23.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arteris

A number of large investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Arteris in the second quarter valued at approximately $53,000. Versant Capital Management Inc raised its stake in shares of Arteris by 33.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,150 shares of the company’s stock worth $56,000 after buying an additional 290 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Arteris by 106.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,730 shares of the company’s stock worth $41,000 after buying an additional 890 shares during the period. Allworth Financial LP purchased a new position in shares of Arteris during the 2nd quarter valued at approximately $87,000. Finally, State of Wyoming purchased a new position in shares of Arteris during the 2nd quarter valued at approximately $165,000. Institutional investors and hedge funds own 64.36% of the company’s stock.

Arteris Company Profile

Arteris, Inc is a semiconductor intellectual property (IP) company that develops technologies used in the design of system-on-chip (SoC) devices. Its products help semiconductor and electronics companies connect, manage and protect the various processing, memory and other functional components integrated into complex chips.

The company’s portfolio includes network-on-chip (NoC) interconnect IP, which supports communication among different elements within an SoC, as well as cache-coherent interconnect, system IP and related design technologies.